When solving for time value of money problems it’s critical that the frequency of the N, I, and PMT components match. We’ll discuss everything you need to know about getting started, we’ll cover some routine calculations, and we’ll also tackle some common mistakes and misconceptions. You can use any of these alternate functions at any time by simply pressing the appropriate shift key (gold key for example) and then pressing the function key with the gold label that you want to use. The time value of money keys are located along the top of the calculator and correspond to the 5 components of all time value of money problems (N, I, PV, PMT, and FV). All you have to do is use the ON Button to turn it on or the Gold Key first then the ON button to turn it off.

However, this does not auto-adjust the N and PMT components (you still have to do this manually), which makes this function cause more problems than it’s worth.Assuming you’re comfortable with the concepts of the time value of money (in particular the 5 components of all time value of money problems), the time value of money keys on the 10BII are very intuitive to use. This is a straightforward process on the HP 10BII but it does involve a lot of steps that can be cumbersome and sometimes annoying. In a survey of the PropertyMetrics audience the HP 10BII was the most popular financial calculator used, so for the purposes of this article we’ll be focusing on the HP 10BII.

Below we’ll go over how to use each of the 5 keys individually and also go over some practice problems. Whether you are a seasoned investor or you just have questions about paying off your credit card, refinancing your home, or planning your 401(k) contributions, the 10bii Financial Calculator has the answers to YOUR financial questions!This is one of the newer and most popular Texas Instrument financial calculators and is also widely used in business schools and the finance industry. Now that we have a general feel for how the financial calculator is organized, let’s go over some frequently used functions and useful settings you should understand. I was a little bit upset because this is my favorite app, and I have all the Android calculator apps. Several additional scientific functions were also added, such as trigonometric and hyperbolic functions, their inverses, and several additional statistical regression models.

All of the other fancy-looking keys might make things confusing at first, but these math functions should make you feel right at home. However, the layout and the core calculations for math and the time value of money are the same and everything covered in this article will also apply to the HP 10BII+. If you’re just getting started, the first choice you’ll need to make is which financial calculator to actually use. The second in 2007, branded as "10bII", had a silver bezel and blue statistical shift button and key labels.

To solve for the interest rate, let’s take a look at a variation on the present value problem above. The first in 2001, branded as "10BII", had a golden bezel and mauve statistical shift button and key labels. It is an ideal tool for teaching the power of compounding interest, analyzing potential deals or business ventures, or just doing math problems, and sharing the results of your work with others. The part number and physical appearance of model 2 didn't change except for a "Rev 2" plate on the bottom side. If you look closely at the other keys on the financial calculator you’ll notice that they have white letters, gold letters, and purple letters.